High Density Development Opportunity
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HiGH DENSiTY DEVELOPMENT OPPORTUNiTY MINUTES TO BAYVIEW SUBWAY STATION YORK MILLS RD BAYVIEW AVE HWY 401 SUBJECT PROPERTY YMCA LANDS BAYVIEW SHEPPARD AVE E SHEPPARD LINE 4 567 SHEPPARD AVENUE EAST, TORONTO, ONTARIO HiGH DENSiTY DEVELOPMENT OPPORTUNiTY 567 SHEPPARD AVENUE EAST, TORONTO SIGNIFICANT DEVELOPMENT OPPORTUNITY AT SHEPPARD & BAYVIEW THE OFFERING Current land use policies seek to ensure that the greatest densities and heights of new developments CBRE’s Land Services Group has been retained as the exclusive advisor by the are located along major arterial roads, highways YMCA of Greater Toronto (known as the “Vendor” or “YMCA”) for the disposition and in proximity to transit stations. of the ±2.2 ac. surplus lands located at 567 Sheppard Avenue East (known as the “Site” or “Property”) in the City of Toronto. The Site presently forms part of a single parcel owned by the YMCA. The YMCA is looking to retain approximately 1.3 ac. (known as the “YMCA Lands”) to construct a replacement YMCA facility fronting on Sheppard Avenue and to sell the balance of the surplus lands for redevelopment. However, a severance is required to create the ±2.2 ac. Site. Please note that the exact size of the YMCA Lands is approximate, and that all delineated lines on the aerials are approximate. DON MILLS HWY 404 / DON VALLEY PKWY SUBSTANTIAL MARKET FUNDAMENTALS SHEPPARD LINE 4 The Site’s configuration allows for direct access off of Bayview Avenue with 234 ft. of frontage. There is also an opportunity for access off Sheppard Avenue East Less than 433 units of standing inventory and Kenaston Gardens through the YMCA Lands with an easement which will be within a 3km radius, achieving highly determined through the approvals process. LESLIE competitive pricing upwards of $1,300 per sq.ft. (RealNet, 2021). The proximity of the Site to Bayview Subway Station and Highway 401, provides an SHEPPARD LINE 4 LESLIE ST exceptional opportunity for high density, transit oriented development. Key policies within the Provincial Growth Plan (2019) seek to ensure that the highest densities are built around existing or planned transit infrastructure, as well as along major arterial roads and highways, with the goal of ensuring that future development contributes to a complete community through intensification with a mix of uses. BESSARION SHEPPARD LINE 4 The YMCA Lands will front on Sheppard Avenue East for the development of a PROXIMITY TO AMENITIES AND SERVICES mixed use building comprising 135,000 sq. ft. including replacement YMCA facility. In addition, a sale leaseback will be required following the severance of the ELKHORN PUBLIC SCHOOL YMCA Lands. Once the YMCA can occupy the new location fronting on Sheppard, The Property is ideally positioned to capitalize on the balance of the Site will be available for redevelopment. As such, the Site will the existing amenities and services that the area also benefit from proximity to the replacement YMCA centre of community that has to offer, including Bayview Village, Fairview may include among other services on-site childcare, and a health & fitness facility, HWY 401 Mall and Yonge Sheppard Centre. providing future residents with immediate access to these amenities. While a key REAN PARK SHEPPARD AVE E objective is to maximize the disposition value of this asset, the Vendor is looking for a partner that is aligned with the YMCA’s mission, vision, values and strategic plan. The Property is located directly across the street from Bayview Village, which provides immediate access to a variety of shops, restaurants and services. In addition, the Yonge and Sheppard Centre is 6 minutes away by transit and Fairview Mall at Don FAVOURABLE DEMOGRAPHICS Mills Avenue and Sheppard Avenue is a 5 minute transit ride away. The Site also has incomparable access to Highway 401, located just north of the on ramp/off ramp at Bayview Avenue, allowing for direct connections across the GTA. BAYVIEW Within a 1km radius of the Site, the population is anticipated to grow over BAYVIEW VILLAGE SHEPPARD LINE 4 SUBJECT PROPERTY 10% by 2025 and household incomes are PROPERTY INFORMATION over $114,000 (SiteWise, 2021). PIN(s) 100900419 & 100900416 ±2.2 ac. (based on YMCA retaining approximately YMCA LANDS Total Area 1.3 ac.) Official Plan Mixed Use Areas The entire Property is within the Sheppard East Subway BAYVIEW AVE CLOSE PROXIMITY TO Corridor Secondary Plan boundary, however, the land use BAYVIEW SUBWAY STATION map only designates a portion of the YMCA Lands along Secondary Plan Sheppard Avenue East. Therefore, an OPA will need to be submitted to designate the balance of the YMCA Lands and With the subway station located minutes to surplus lands within the Secondary Plan. the Property, future residents and workers Rd (f15.0; a550) (x66) of the Site will have unmatched access to (Residential Detached) - By-Law 569-2013 Toronto’s transit network. Zoning By-Law R4 (One-Family Detached Dwelling Fourth Density Zone) - By-Law 7625 (in force) OFFERING PROCESS CBRE’s Land Services Group has been retained by the YMCA as the exclusive DOCUMENT CENTRE advisor to seek proposals for the disposition of the surplus lands located at 567 • Survey • Site Plan (CAD) Sheppard Avenue East in Toronto, Ontario. • Phase I and II ESA • Preliminary Servicing Investigation • Geotechnical Report • CIM Interested purchasers will be required to execute and submit the vendor’s form • Site and Floor Plans • Vendor’s form of LOI of Confidentiality Agreement (“CA”) prior to receiving the information on the Offering. CONFIDENTIALITY AGREEMENT All inquiries regarding the Property or for further information should be directed Potential purchasers that require access to the Document Centre to the advisors below. Please find Submission Guidelines in the Confidential must complete a CA and return it to: [email protected] Information Memorandum (CIM) in the Document Centre as well as the Vendor’s form of LOI. OFFER SUBMISSIONS OFFERS DUE: TUESDAY, APRIL 13TH, 2021 BY 12:00 PM (EST) All offers are requested to be submitted to the attention of: Lauren White | [email protected] First round offer submissions are to be submitted on the Vendor’s form of LOI, which can be found in the online Document Centre. LOCATION OVERVIEW RETAIL 1. Bayview Village 2. IKEA North York 3. Canadian Tire 4. MEC North York 5. CF Fairview Mall 6. Yonge Sheppard Centre 7. Hullmark Centre INSTITUTIONS 8. North York General Hospital C 5 9. Earl Haig Secondary School 10 10. Bayview Middle School DON MILLS 11 11. Lambton College 12 LESLIE BESSARION PARKS 12. Bayview Village Park 1 4 3 9 8 13. Moatfield Farm Park BAYVIEW B 2 14. Betty Sutherland Trail Park SUBJECT PROPERTY A 13 SHEPPARD 14 ACCESS TO SUBWAY LINE 1 6 7 NEARBY ACTIVE DEVELOPMENTS Available Purchase Size Range Development15 Builder Opening Occupancy Units Sold (%) ($/sq. ft.) Price (sq. ft.) Stafford $564,900 to A 181 East 8/1/2020 10/1/2023 $1,302 438 to 1,282 182 149 (82%) Homes $1,725,900 King’s Landing - $430,000 to B Concord Adex 4/30/2019 10/1/2022 $1,283 325 to 1,122 247 193 (78%) South Tower $1,402,000 Capital $441,990 to C Azura Condos 4/6/2019 11/1/2022 $1,087 430 to 1,135 358 348 (97%) Developments $1,189,990 ADVISORS: Lauren White* Mike Czestochowski** Emelie Rowe* Evan Stewart CBRE Limited Senior Vice President Executive Vice President Planner Sales Representative 2005 Sheppard Ave E, Suite 800 T +1 416 495 6223 T +1 416 495 6257 T +1 416 495 6306 T +1 416 495 6205 Toronto, ON, M2J 5B4 [email protected] [email protected] [email protected] [email protected] www.cbre.ca/mclsg *Sales Representative **Broker | The owner reserves the right to refuse offers | All outlines are approximate This disclaimer shall apply to the vendor, to include all employees and independent contractors (“Vendor”); and to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation, to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by the Vendor or CBRE, and the Vendor and CBRE do not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. The Vendor and CBRE do not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from the Vendor and CBRE.CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Google Earth 08/2021. © 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information.